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Multinational Corporations from Emerging MarketsMultinationals as an Instrument of Catch-up Industrialization: Understanding the Strategic Links between State and Industry in Emerging Markets

Multinational Corporations from Emerging Markets: Multinationals as an Instrument of Catch-up... [Emerging-market multinational corporations (MNCs) rise from rapidly catching-up economies, not from any so-called emerging ones. Their appearance on the world stage is concomitant with their success in initiating and sustaining industrial modernization in their home countries. And a successful catch-up can be planned, promoted, and achieved by a proactive government in an emerging economy that has a strong national determination for economic development. Market forces alone are not enough to spark an industrial takeoff. State involvement is practically a necessity, since market failures and externalities (notably negative ones) are rampant, both prior to, and in the early stages of, industrialization.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Multinational Corporations from Emerging MarketsMultinationals as an Instrument of Catch-up Industrialization: Understanding the Strategic Links between State and Industry in Emerging Markets

Part of the International Political Economy Series Book Series
Editors: Nölke, Andreas
Ozawa, Terutomo
Multinational Corporations from Emerging Markets — Dec 1, 2015
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21 pages

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Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2014
ISBN
978-1-349-47156-0
Pages
31 –52
DOI
10.1057/9781137359506_3
Publisher site
See Chapter on Publisher Site

Abstract

[Emerging-market multinational corporations (MNCs) rise from rapidly catching-up economies, not from any so-called emerging ones. Their appearance on the world stage is concomitant with their success in initiating and sustaining industrial modernization in their home countries. And a successful catch-up can be planned, promoted, and achieved by a proactive government in an emerging economy that has a strong national determination for economic development. Market forces alone are not enough to spark an industrial takeoff. State involvement is practically a necessity, since market failures and externalities (notably negative ones) are rampant, both prior to, and in the early stages of, industrialization.]

Published: Dec 1, 2015

Keywords: Market Failure; State Capitalism; Government Failure; Overseas Investment; Industrial Modernization

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